St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-04-01
YESTERDAYS MARKET.
On the Chicago Board of Trade There
Was a Lively Scramble to Buy
Wheat.
Which Began Soon After the Morning
Opening, and Was Kept Up Through
the Session.
The Strength of the Day Was Due to
Falling OFF in Rec
ceiptS.
Transactions in the Financial Cir
cles of Wall Street--General
Quotations
Special to the Globe.

CHICAGO, March 31.-Californa dispatches
this morning said that the wheat clique there
had been putting the screws to the market,
and that the year option yesterday had
sold to $1.S6 per GENITAL or S1.1125 per bushel.
The message further said that the opinion at
San Francisco was general that the California
market was cornered tight and that the
shorts were commencing to find the squeeze
uncomfortable. From the other extreme
market of the world, Liverpool. private cables
bore almost the identical tale. The
California clique, they said, were buying
and the market was firm. Everybody
knows that little else is talked here save the
wheat clique. With all the big markets from
Liverpool to San Francisco. talking of the big
wheat clique and predicting in an alarmed
way q corner. it was no wonder that the
once sold above S3}ac. There was other
news besides manipulation. The reports of
crop damage are still pouring in. From
California one dispatch said: 1.-The third OF
the crop here is lost beyond redemption. 1t
will take good rains within the next twenty
days to save even Il substantial part of what
Is left" There happened to be
ANOTHER COINCIDENCE
of bull news of all sorts and from all quar-
tiers. Undoubtedly the arrival home last
night of p. ID. Armour was bull factor. 1t
might not have been TO the minds of all on
That made it count. Field, Lindley & Co.
were sellers at the very opening and buyers
i'll big blocks after the market had advanced
above S3c. But neither their buying nor
selling cut any figure. The alarm of the
wheat traders who happen to be short, OF
traders who were not bears but who wanted
decline to buy on, of traders who were
bears and would not buy on an advance, is
begun. Avery little struggling by the people
for wheat At sic sent it to SIC and very
little effort to buy at SIC sent it to S3c. The
ease with which the price is marked up shows
how silly all the assertions that there is no
shortage are. P. D. Armour said this morn
ing: Il have no interest in wheat. and none
OF my friends have, SO far as I know. 1
have no opinion on it.
THE ROUTINE REPORT.
CHICAGO, March 31.-Shortly after tn e
opening of change this morning there was
scramble to buy wheat. The very uncertain
ties connected with the movements of the
commodity appeared TO stimulate the bullish
feeling which has been prevalent for week
past. The May future rapidly advanced to
S312c, the advance was accompanied by some
feyerishness and stopped at the point named.
For an hour or so reactions of 1s@14c were
quickly regained. Later there was short
period of dizziness aud the price dropped
nearly lie. second period of activity re-
suited in recovery of this loss and an ad-
vance to S334c, which was the highest point
OF the day. During tn last half hour free
offerings induced reaction to S2ssc. The
close, however, was firm at $500. The
strength of the day was partly due to re-
ceipts being nearly 100.0 600 bushels less than
yesterday, twelve points showing total of
$4,000 bushels. Corn was comparatively
steady, ranging 401s@995Ec for May. Oats
ranged 2S9s@29c for the same option. Short
ribs were strong again, advancing 5171ac.
THE QUOTATIONS.
The leading features ranged as follows:
No
ing at 1890; May, S25sc, closing at 1890;
June, Sic. closing at 81 1866; July, s0s4c,
closing at S034c. Corn-No. 2, March, 3415c,
closing at 345sc: May, 395sc, closing at 4O1sc;
June, 40ss@4019c, closing at Ale: July,
4l32c, closing at 411sc. Oats-No. 2 March,
2S1ac; June, 29c, closing at s91ac. Mess
pork, per barrel-March, S20.6 closing at
$1,000; May, SCI, closing at S21; June, $2I,
closing at 81. Lard, per 100 pounds-March,
1922. closing at 1925; May, S7.42h. closing
at s7.42%; June, S7.473a, closing at $3.50.
ing at $S.15; May, 1925, closing at Ss.25;
June. 1888, closing at $s.3215.
Cash quotations were as follows: Flour
dull and unchanged. Wheat-No. spring,
ole; No. 3 spring, T6c; No. red, Sic. Corn
Flax seed-No. l, S1.Os. Timothy seed
Prime, SI.72. Mess pork. per Dbl, $40. so
92O.T5. Lard, per lbs, S7.3715. Short rib
sides, loose, SS1O@S.15; dry sailed shoulders,
boxed, S6.lO06.25; short clear sides, boxed,
SS-55@S.60. Whisky, distillers finished goods,
per gal, S1.1s. Sugar-Cut loaf, 6L06Mc;
granulateG. 61sc; standard A, 55ac Receipts
Flour, $4,000 bbls; wheat, IS, 600 bu; corn,
%, 0Oc blu: oats, $4,000 blu; rye, 5000 bu:
barley, $4,000 bu. Shipments-Flour, 49, 600
bbls; wheat, $4,000 bu: corn, 10000 bu:
oats. 10000 bu: rye, 5000 blu; barley, 40
600 blu. On the produce exchange to-day tn
butter market was active; creamery. e
2Ss4c per b; dairy, 1T@26c. Eggs, lie 24@
doZ. Der